Land, house prices likely to rise with approval of land bill
According to the property consultant, along with the land price, house prices will also increase if the land acquisition bill is passed by the government.
Confederation of Real Estate Developers’ Associations of India (CREDAI) National President Lalit Kumar Jain commented that this will not be a good step towards the economic growth and it will increase the price of the houses and land cost.
This will be a big drawback for the developers and they will hesitate to invest in big projects.
The bill has been cleared by the Union cabinet in December 14 in which it stated that the consent of 80 percent of the owners should be made mandatory for private projects and for public-private project, the bill makes it mandatory to obtain the consent of 70 percent of the land owners.
The bill proposes rehabilitation of land owners and high compensations.
National Real Estate Development Council ( NAREDCO) President Navin M Raheja commented that the bill although speak about the compensation for the farmers but the growth of the economy will be slowed down if the bill is passed.
Mumbai-based Hiranandani Constructions Managing Director Niranjan Hiranandani and Jones Lang LaSalle India Chairman and Country Head Anuj Puri said that it will be not a cakewalk for the developers to buy land for the houses as the price will shoot up.
Although the biggest Indian developer DLF commented that the argument is still on in the parliament for the final approval. DLF Group Executive Director Rajeev Talwar said that the bill won’t be a problem as company acquires land with full consent of the owners.
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[...] Land, house prices likely to rise with approval of land bill [...]
[...] Land, house prices likely to rise with approval of land bill [...]
[...] Â Land, house prices likely to rise with approval of land bill [...]